GovWire

Phase 2

Administrative timetable

Date of referral: 17 May 2022

Statutory deadline: 31 October 2022

• Administrative timetable (30.6.22)

Contact

LSEG_Quantile@cma.gov.uk

Provisional Findings

9 September 2022: The CMA has provisionally cleared the anticipated acquisition by London Stock Exchange Group plc of Quantile Group Limited. The full text of the provisional findings decision will be published shortly.

• Summary of provisional findings (9.9.22)
• Notice of provisional findings (9.9.22)

Responses to issues statement

• Parties response (21.7.22)
• Third party response (21.7.22)
• Third party response 2 (21.7.22)

Issues statement

16 June 2022: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm, 30 June 2022.

• Issues statement (16.6.22)

Initial Phase 2 submission

• Main parties initial Phase 2 submission (16.6.22)

Inquiry group appointed

17 May 2022: The CMA has appointed the Inquiry Group:

Martin Coleman (Chair), Susan Hankey, John Thanassoulis, and Crispin Wright.

Terms of reference

17 May 2022: The CMA has referred the anticipated acquisition by London Stock Exchange Group PLC of Quantile Group Limited for an in-depth investigation

• Terms of reference (12.7.22)

Phase 1

Statutory timetable

Reference decision

17 May 2022: The CMA has referred the anticipated acquisition by London Stock Exchange Group PLC of Quantile Group Limited for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom

• Decision to refer (26.5.22)

Reference unless undertakings accepted

3 May 2022: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

• Full text decision (27.5.22)
• Summary of phase 1 decision (3.5.22)
• Press release: LSEGs anticipated Quantile purchase raises competition concerns (3.5.22)

Launch of merger inquiry

3 March 2022: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement notice (3.3.22)

Invitation to comment: closes on 17 March 2022

3 March 2022: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above.

Contact

Please send written representations about any competition issues to:

LSEG_Quantile@cma.gov.uk